Facebook’s Marcus Says Libra Association Will Be Independent ‘by Launch’

The Information: If we could start with maybe David to start, could you explain why Facebook has hired the handful of people who already worked at the association in key roles? On the Libra website, it says that will be the MD's [managing director’s] job to recruit those positions. I'm just curious how that fits with the goal of the association being something that is set up independently of Facebook?

David Marcus: The way that we could have set this up is very different than the way that it is set up right now. We could have written the whole charter and have every member sign on the dotted line. We could have pulled [that] off really easily because there’s just so much more interest than there are available slots, if you will, if you count 100 members, right now.